The Growth of Digital Lending Market in India

1
The Growth of Digital Lending Market in India
2
With digital lending each and every step of the
lending and borrowing process is now completed
through electronic. A new class of companies
known FinTech companies are the one who are
promoting Paperless Lending and has given a new
path to the lending industry in India after
America and China.
3
The Need of Digital Lending Digital Lending is
nothing but an advancement in the lending and
borrowing process where one can borrow within a
short duration of time, without any paperwork.
FinTech companies offer lending within 24 hours.
4
Factors helping Rise of Digital Lending in
India Technology For loan processing there is a
system/software now to check the documents,
process the loan application and to disburse the
approved loan.
5
Security Many of us are concerned about identity
theft and money theft from account is a common
thing. But in case of Digital Lending software
tools are used with which any kind of information
is very secured which even cant be hacked.
6
Disbursal Time With Digital Lending loans get
approved within 24 to 48 hour which earlier use
to take 10 to 15 days for the disbursal of the
same loan.
7
Hassle free and smooth process The Digital
Lending platform the process become so simple and
the customers dont need to go bank even for a
single time and even it has a facility where the
borrowers can trace their application process
online being at home with their laptops and
mobile.
8
Introduction of e-KYC The introduction of e-KYC
has played a major role in the bloom of Digital
Lending in India. Now almost all banks in India
have internet-banking and mobile banking
facilities too through which a customer can
download his/her financial history and
demonstrate his/her ability to repay a loan
efficiently.
9

• Benefits of Digital Lending and Borrowing System
• No Physical Documentation Required
• Quick Disbursal
• Ideal Option in Case of Emergencies
• Reasonable Interest Rates
• Transparency in lending processes